A sharp decline in international tourism due to the pandemic can cost the global economy $4.8 trillion in 2020-2021. One of the reasons is the lack of vaccines in developing countries.

A report released on June 30 by the United Nations Conference on Trade and Development (UNCTAD) showed that this year losses for global GDP will be $1.7 trillion to $2.4 trillion – more than expected in last year’s worst forecasts. According to a study carried out jointly with the United Nations World Tourism Organization (UNWTO), about 60 percent of the losses will occur in developing countries.

Turkey, Ecuador, South Africa, Maldives, Saint Lucia, and much of Asia and Oceania have been hit hardest by the lack of tourists. Meanwhile, North America, Western Europe and the Caribbean almost did not feel it.